 I have a problem with spending before paying...any suggestions? |
| I have plenty of bills, some later than others...I know they need to be taken care of and i keep telling myself that I will...but when payday comes I fell the need to spend on irrelevant items and ... |
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 I owe $10,010.14 to my three credit cards put together, i need help really bad real soon!? |
| Is there anyway i can maybe apply for another card and pay my creadit cards with that new card that way i just have 1 card to pay off that would make my life sooo much better living on my own sucks i ... |
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 What can you do about a collection agency calling for different person? |
| Colection Agency continuously calls for my father on my home and cell after I repeatedly prove it is not me and give details where he is and yet they still call. What grounds do I have and what all ... |
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 If I don't plan on ever buying a new car or buying a house, should I not care about having good credit? |
| I think i'll never buy a house and I always get used card and pay cash for them. Why should i care if my credit is not good?... |
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 Yes loans have offered me a loan? |
| yes loans have offered me a loan for £2000 at £65 a month the interest is an extra £1200 this is the only sort of place were i can get a loan as i have a really bad credit rating . do you think ... |
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 Should I report a family member for credit card fraud & identity theft? |
| I'm debating turning in my Aunt. She is a cleptomaniac and she steals people's identity to get credit cards in their name. She is out of control. I love her but she needs help but I'm ... |
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| I'm trying to get a home loan. Do you have any tips? (considering the following)? |
Theres going to be me and another person, but both of us have no so good credit scores. We're both working on it, and we have about 2000 to put down.
Any tips would be greatly ... |
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 Serious question: What happens when you get married to someone w/ terrible credit? |
| I have excellent credit & I’m getting married to someone w/ terrible credit, tax leans, & such. What will happen to me when we get married will my credit get ruined? Should I not change ... |
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 What would two 18 year olds need to do to rent an apartment with no credit history? Is it possible? |
| What would we have to do to get an apartment? How do we get credit? If our credit isn't bad because we haven't used it, can we still be approved? Would we have to co-sign with a person ... |
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 Using a Credit Card to Pay Off a Credit Card? |
Does anyone know a way to use a credit card to pay off a credit card and in the process no interest is accumulated?
Additional Details
Lets say I have two credit cards. I use one and ... |
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 PayPal, eBay question? |
Does the seller have to pay the PayPal fees if I pay for an auction item with a credit card through PayPal? Are there any other rules on this for eBay?
Additional Details
I have a ... |
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 Should I ditch Capital One, and get a new credit card? |
Hey Guys!
I'm Alex, and really need your advice on this subject. I currently have a Capital One Visa credit card, but seriously thinking about canceling it because I've heard so ... |
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 My husband filed bankruptcy before we got married, I need a new car..........can he cosign for me? |
| I need a new car and I need a cosigner, come to find out, my husband filed for bankruptcy and he didn't even told me until now. The good news is he is about to get discharge, but I need a new ... |
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 Is Debt Settlement a good alternative to bankruptcy? |
| Does Debt Settlement restore your credit in fewer years than bankruptcy if your can't afford debt consolidation?... |
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 Should I get a credit card? |
| I am 19 years old and I want to build my credit up. Would it be a good idea to just get one credit card, a very basic one, and then charge about 50-100 dollars a month on it, and pay it every month. ... |
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kieran m | I noticed before christmas that my credit score was terrible. 511 to be exact? |
So I joined Experian and started paying ALL my bills on time I cleared 2 defaults(partial settlement) and brought a store card below its balance. This has all been shown on my report but the problem is my score isnt improving not by a single point. I called experian yesterday and the girl i spoke to said the score didnt matter its account activity that lenders look at, if this is the case why have a score? Does anyone have any idea why my score isnt going up? I havent missed a single paymeny on any account since christmas!!!! Please help if you can. |
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Millionster.com
 |
You're doing great so far but there are a lot of things the affect your score and not just paying off debts..
When you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it...
Your Credit Score (also known as your MyFico score) is calculated with the following breakdown:
35% - Payment History
30% - Credit to Debt Ratio
15% - Credit History
10% - New Credit
10% - Credit Types in Use
If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score.
If you're still at a loss as to what you can do to fix your score...I've posted some links below to help.. also I raised my score to well over 700 points fro 500 using these steps in less than a year -- :
# Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score tracking listed below. It really helped my get my score up.)
# Never Miss a Payment, Starting Today
# Never use more than 20% of your Available Credit
# Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
# Extend Your Credit Limit on Cards You Already Have before You Get New Ones
# Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
# Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-
# If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
# Take out a Small Personal Loan and Repay it Over a Year
# Ask Someone With Good Credit if They will Account Shadow you
see more here
10-Ways to Boost Your MyFico Score
http://millionster.com/articles/debt/increase-fico-credit-score/ |
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RRM
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A lender will look at your history only if your score is low, if it is high then you will be automatically accepted.
Just because you've paid debt in the last few months doesn't matter, you still defaulted in the first place.
Your score will increase over time, not just few months. It's also dependant on your type of job, whether you're married, if you own your house etc....
Don't forget, lending is risk based, they want someone who looks unlikely to default, you, at the moment do not represent a good risk. |
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lukee
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As others have said you have to give it time - probably five years or so for everything to be resolved.
Make sure that you are on the electoral register at your current address - thats the most important thing for your credit rating
See http://www.mortgages.co.uk/advice/credit-score-information.html for further information |
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RM
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You've had credit problems for a number of years, by the look of it - with two defaults and an overrun store card. You can't realistically expect it to improve for a year or two at least.
The defaults will stay on your credit report for five years, and will continue to drag down your score for the full five years. They will be marked as 'settled for less than full amount'. The fact that you're keeping up to date with your payments now is good, but it will take at least another six months before it reflects in your score.
The store card should be further reduced to about 30% of the available credit, and make payments on it regularly.
You're doing all the right things, well done, you just need to continue doing them for another while. |
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>>киσω-ιт-αℓℓ<<
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I don't know much about this, but I saw this program on tv once, where they said, if u have any unused store cards etc., they contribute to ur low credit rating, so it's not just enough to cut them up and throw them away, but u should actually call them up and cancel the cards. |
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katewearsconran
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Sounds like you need to continue with the better payment record. Check out experian's FAQ section, there's advice on there about how credit scores are calculated. I'm sure that lenders look at the score, cos when you apply for a store card in a store they ring up for the rating. Hopefully your score will jump up fairly soon to a better number. The maximum is 1000. |
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savs
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Once a bad payer, always a bad payer.
That's the way the banks look at it. |
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roboROB
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I agree with all the answers given here. Just keep doing with what you are doing. Don't get discouraged. In college I racked up some hefty credit card debt and was around the 300 score range. It took over 7 years, but my score is now in the mid 700's. I know...that took a while, but better to have good credit than bad.
Attached is a reference that you can look over that may shed some light on the subject. (source: LendingTree) |
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PinkPotions
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If you have a lot of searches from lenders it brings your score down, or if you have moved address alot. Searches take 1yr to come off your file and number 8 defaults take 5yrs to be removed. Your past won't be removed in 6months, it can take years to get your score back up.
This obviously won't help you but i suggest if any information is wrong or the searches aren't justified, write to all involved and force them to change it. |
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jackie m
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it takes around 5 years for it to be taken of the bad debt list, the more times you apply for a credit card your points go down again until the 5 years are up. There is some companies that tell you they can get your score back to normal, dont listen to them nobody can do that. |
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spaz
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it takes quite a while to raise your score. your past bad credit is still on your report, and will be for quite some time. all you can do is continue to pay bills on time and keep credit cards under their limits.
eventually your score will go up.
your credit score is a key factor in decisions about granting you credit, though account activity is also a factor. |
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juology
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keep perservering - I haven't found the score to matter too much - most lenders look at recent history - they will look at if you have any late payments in the last year? if there's nothing in the last six months you should be ok. With CCJ's so long as they're not too recent and they are paid off or beginning to be paid not too much of a problem. Best not to get any more debt if you can avoid it!
Everything you apply for creates a search and stays for a year, but everyone else can see them and will wonder why you have made so many applications - can be adverse. They will automatically drop off.
You can still apply and get a mortgage, you might just have a higher rate to pay in the short term. Once you clear your credit history then you can remortgage easily enough.
Just keep up your payments, try and not increase your debts. |
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